MARKET UPDATE 07-Mar-19

Sentiment was mixed in markets today as global growth concerns reappeared. Data released yesterday showed the U.S. trade deficit widened in 2018 to a 10-year high. Trade remains high on investors’ agenda as they wait for details of a possible accord between the US and China’s trade deal.

Australia’s Trade Balance data was also released today. Their trade surplus increased to $4.5 billion in January. This makes it the second largest surplus on record, as the value of gold exports exceeded expectations.

And in other news, the Canadian dollar lost a bit of ground after the release of the Bank of Canada’s latest policy statement. And in Europe, the Central Bank is set to downgrade its outlook on euro-area growth when it reveals its interest rate decision tomorrow.

FX Rates – 07.03.19

 

 

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